Equity Residential has sold Vantage Pointe, a 679-unit apartment property located in downtown San Diego, for a sale price of approximately $312.5 million.
The buyer was not disclosed.
“We are pleased to execute on the opportunity to sell this asset at a price that we had ascribed to the property pre-pandemic,” said Mark Parrell, Equity Residential’s president and CEO. “The use of these proceeds to address our only significant 2021 maturity leaves us with minimal near-term maturities, preserves the flexibility of our balance sheet and maintains credit capacity for future opportunities.”
